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tv   [untitled]    June 17, 2012 2:30am-3:00am EDT

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welcome back you're watching r t here is a look at the top stories of the week people of greece had to the polls for the second time in two months to decide the country's future with their choice impacting the entire euro zone we are left with two options to side with a stereo or to revolt against a move which could ultimately spell greece's exit from the euro. the united nations' peace plan for syria is near collapse as observers say it's getting too risky for them to continue their mission and escalating violence this as moscow denies u.s. claims that a russian military cargo ship is on its way to syria with weapons and troops. and in egypt activists say the revolutions in jeopardy and are boycotting the on going
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presidential poll after the military claimed all branches of power for itself as long as is facing off against the bards last prime minister with great ease saying neither man's a champion of change. now our t.v. chats to the person who predicted the global economic crisis the consequences of which are still being felt across the world. mr b. thank you very much for your time in two thousand and six you predicted that there would be a deep economic crisis and six years later we're still in it now did you expect it to last so long that it would be so deep and where are we in the middle in the beginning or maybe there's light at the end of the tunnel and the crisis morphed into thousand and six was a problem of too much that the leverage of the private sector households bangs financial institutions on corporate now as a result of the response of the krises discuss the memos bailing out banks and
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others over their massive surge in public that and that sits and now there is a risk of contraries as opposed to in the be the world's or bangs going belly up qantas having solvent risk in the fall thing as already happening in greece and unfortunately when you have to watch private in public that it takes a long time up to a decade or two to be leveraging that means to supplant elias to save more or to reduce that over time and that implies that lower kind of a girl high unemployment rate and some degree of social and political instability and happiness so we are able to i would say. you know this slow economic growth if not outright that a session in the eurozone that is call of a followed by government is going to stay with us for a number of years if you gave a percentage of
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a chance of greece exiting the euro zone how much would that be and would it be good for greece to come out of the years and i would say that you know by next theater i would say there is at least a probability did they greece exit the euro zone thinking about actually even if they like not in june a new government is going to try to reform them very comic situations are coming so sustainable that they will exit. and i would say that it could be good good for them as long as the exit is all of the only. means that then there are massive shown that axworthy called local believe that a store growth to restore excel ballance of the b. damage the banks damage the savings of people in the banks and that's why they need more funding to make sure that raising all these old believe and the contagion of the rest of the eurozone is mol there so if is than they could see it that way and it's finance and these are all of the really probably it's a manageable look on the bags do you think in the worst case scenario when greece
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for example exits the years and we see defaulting on the other countries in the peripheral europe also doing the same following its example do you think we might be going back to the so-called economic dark ages that we've seen for more than a decade in europe in the thirty's well there is certainly a risk that the situation could become these or that in the eurozone like at these all of the early default an exit by. contagion with iran on the banks they made early in spain then they lose market and then they eventually have to restructure the senate and that's not such a few years down the line they also ags of the eurozone in which case the eurozone you know breaks up and you could have a significant european and a global you know financial turmoil and then you could end up like japan with long terms like a nation if you hold another the pressure. now all these things happening at the same time maybe out of the low probability but there's
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a risk we have to ourselves there's a chance that they get their act together and while being number of years of. fiscal condition about and surely you have more integration more of a fiscal union and more of a banking union that will probably zation eventually probably you're doing well instead of these integration process leads to great that. integration and eventually more stability for europe in the global economy do you think that's actually possible because europeans basically do not see much of a perspective of a political union because you know greeks and say swedes do not align themselves together they do they think of themselves as separate nations some people are skeptical some people say they have no choice and every time there's been a cries in europe there's been a gradual bit more integration and there's no choice because the disintegration would imply economic and financial damage and even in germany i alone in the world
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economy with the rising power like china or india. or existing superpower like us could be economic and they're just a midget so you know the europeans have to stick together to have their own weight in global economic and even political affairs many books including yours have been written as to the reasons behind the the housing market collapse in the united states what about in europe would you put the most blame on and how much is brussels to blame for what's happening right now so you know sometimes people tend to say the eurozone problems because of lack of fiscal discipline or fiske of recklessness that applies really the really only degrees c. has a reason to lie then cheat them that this is a fifteen percent of g.d.p. and the deficit blow up and then that led to the fiscal crises but actually in spain in the island was the private sector that that eventually led to the problems of having to bail out the banks large their physical rate their fiscal problem was
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all the fiscal problem the first place. so you know you cannot generalize there are different types of crisis within the eurozone not all of them were necessarily prevented by excesses in the public sector of several of them where the binocular by excesses in the private sector because of poor regulations or because i'm of the bank of says that a creator of a real estate than a. and i cried bob what about the main economic power in the united states you said that economic growth would slow down next year to one one and a half percent do you think that also apart from slowing economic growth the united states runs the risk of seeing pretty much the same what's going on in the euro zone right now. i don't think there would be a fiscal cries in the us even if the deficit than that of a large arising in part because u.s. can print money to finance is that this is something the european central bank is unwilling to do because the u.s.
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dollar still is a presidency so therefore in the mind of china and the rest of emerging market is financing the large us. and current account deficits. they could should be complacent over time if the u.s. were not to deal with his own fiscal problem because a lot of the lyrics then local even as eventually you could have a fiscal train wreck or a sudden stop of copy and then financial tomorrow could happen in the united states that are poor or whatever is the result of the actual next theater whether it's going to be a president starting a plan that leads to fiscal discipline or fiscal consolidation to be part of the what the u.s. has to do you know to avoid the risk of something bad happening he was. later in the white house that other contraries but it could also have been us eventually do you expect the u.s. role in the dollar as role as a reserve currency to to continue as it is right now to maintain its positions and what is your take on the euro dollar rate because last year we asked you the same
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question and you said that you would not bet your money on the euro and you are right about now there is a generalized. happens where the u.s. dollar tween the u.s. is going to take on that say by the realities for now there is not. nearly. as dollar that's why people are still in this limbo on the second question in the last year of the year was. close that one fifteen i'll go to one twenty five you know the overall fiscal and financial problems that it's been over a break out today that the euro should weaken and is likely to weaken the only thing that could maybe stop that we can have the eurozone is either the us economy come so weak then the dollar weakens and the fed in pretty small me and then weakens the dollar or that finally the european get their act together they find the ground leads to a banking union doing and that mattel has a show restoring girl that. and other things that are stored hope that the eurozone
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is going to stay together in which case the euro could. gain more among the main downside risks to the global economy you mention of course a very slow economic recovery where do you see the new tigers and and what is the present role of brics nations this strong growth economies the world of being an emerging markets until recently the brakes but that always sold some of the rising problem as you know of turkey. you know because not just the brics what concerns about the briggs and other emerging market is in all of them for the federal reserve there is now a slowdown of growth you see it in china see iraq in brazil in part of this because europe and you are sort of slowing down if not constructing but in part these because many of these condos are moved away from market oriented but a form of the words them all good old growth companies about it for two as
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a state that he's too much government intervention they call on me too much for all of the state owned banks then all the enterprise is too much protection is too much resource not sure what it is and over time that's a negative because it's going to slow down potential growth it's going to lead to lower the long run you can only grow so more of the brakes are actually going in the wrong that actually in the next few years that's a risk that we have to. say that what about russia's specific role because recently you said the russia correct me if i'm wrong russia should not be considered as one of the brics nations and the will never be included into the g eight if it continues with its with its basically protectionist policy what you know in the g eight you know your prize in this side the not the time the g eight summit because you said he was busy creating his own cabinet that was a bit of a strange thing to do with like a snob you know in the case of the brics the point is you know russia's potential growth to date based on the statements by that with the comment of your central bank is three and
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a half percent of the time i mean the until recently were growing eight nine percent and now they're slowing down so you have a low potential girl that where there is you know not as much market. reform you have aging of population there is a certain amount of lack of transparency that is that amount of corruption. in the seas in the pentagon says that is institutional weakness as of course that also is things you know or a source is good skilled labor force is allowed to three could they play an important role in the global economy by the thing that the import of old and that success is conditional on moving away from state got their ways and so the lesson is you know open up the trade to investment flows of course i've got i've got a regime which is not pugilists affair but then having a stronger call a minister on policy framework means that even it wouldn't times are bad then
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shocks would call from the rest of the globe what i call the me you going to be able to back that up sort of the stocks rather than and putting into a superior financial crisis i think that's the lesson thank you thank you very much mr a pleasure being with you. it's six six. six six.
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six six. six six six. six . soon which right if you move from phones to pressure.
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means for instance on t.v. dot com. people of greece had to the polls for the second time in two months to decide the country's future with their choice impacting the entire euro zone and they are left with two options to side with the stairs or to revolt against it the move which could ultimately spell greece's exit from the euro. united nations peace plan for syria is neither is near collapse as observers say it's getting too risky for them to continue their mission amid escalating violence this is moscow denies u.s. claims that a russian military cargo ship is on its way to syria with weapons and troops. and in egypt activists say the revolutions and jeopardy and are boycotting the ongoing presidential poll after the military claimed all branches of power for itself has linus facing off against mubarak's last prime minister with critics
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saying neither man's a champion of change. now in the world of sports he is here with the latest in just about everything that could go wrong for russia's football team last night did it certainly did what did go wrong over there on the plane home nor merino over how to do was draw with greece not even beat them just draw they couldn't do the more i'm up a very disappointing night more coming up right now. great to have you with us this is sports today plenty heading suiting all this. early and russia's football team crushed out of the european championships in the group stages after defeat to greece for themselves reached the quarter finals against all odds. tight up the top agreement poland jim fury share the lead heading into the final day of golf's u.s.
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open. on magnificent seven roger federer purrs for a seventh gerry webber open final appearance after donning russian mikhail youzhny in the last four. hour it's all of the european championships dickau becomes charges needing just a draw against greece to progress into the quarterfinals from group a last night but richard bump or three told us immediately after the game that will stretch too far. sure our service has been in championships offer an incentive to display against greece well the greeks have one thing that they want to do not which is offended numbers and try and get russia on the counter-attack and then you play a big game plan would perhaps treat on the sort of time the new stage in the russian defense a liar who needs a free run a mile if they haven't been shot from the back of an attempt to get the greeks but we need russia hundley badly but they didn't play well and even they just weren't able to create anything in attack to be honest i'm not one major major problems
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longer of a game went on russia enforcement for the present greece defensive play was absolutely on time stiff against russian no two spain one so wait a minute really you have to get credit for greeks the way they played they were able to hold on to the tourney and russian i go i was never told him and also the czech republic they were able to beat potent by goal so nil. really really depressing things really for the russian players are told and have thought it so well but unfortunately they are not out of the storm and. richard mention russia's fate was sealed by the czech republic who beat poland one nil to claim top spot in the group peter you're a check with the goal and not one joining them in the quarter finals and he's just heard as greece the start of the day bottom of the table while russia where top but who want to difference nineteen minutes can make. meanwhile germany have said
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they'll have to be curfew like and denmark on saturday despite needing only a draw to finish top of group b. the germans holding their final training session of the vols on saturday the spike topping the table they could still go out of the competition defeat by more than one goal against the danes on victory for portugal over the dutch would send them home early ally russia last night. many possible permutations in the group b. probably the easiest way to explain is that all four teams can still reach the quarterfinals though germany and portugal only need draws to see them through. all right let's stay with football work he told villanova has been officially unveiled his new manager the forty two year old signing a two year deal with the catalan giants villanova steps for assisting former boss the boss pep guardiola per steer the club to a staggering fourteen titles out of a possible nineteen over the past four years before guardiola called it
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a last month so the new ball sounds at all to do but says he's not intimidated by the from middletown ask. one of the i'm not too worried about any possible comparisons between quadroon and myself i will just try to do my job well and it will give you just as much time as we did when i was a coach because i give my all you can before so i'm not worried about it and you know. to degree we go where we look set for a nail biting into the second major of the golfing season grimm mick toller and jim few rich are in the lead following day three at the u.s. open the olympic club course in san francisco is regarded as one of the toughest test the sport has to offer and for one of the overnight leaders it's certainly good dot to dot mantle tiger woods carving a full six bogeys to life five shots off the lead who are the only players to make par with the leaders just. who won the u.s. open nine years ago looking good after a birdie on the seventeenth while another former champion northern irish mcdowell
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captured some of us twenty ten for him to share the lead with fury on one under par shot of the day though came courtesy of this man playing in the first ever major john peterson a hole in rome on the thirteenth something tells me he'll be remembering that one. great stuff that brings us to tennis for roger federer has reached his first final long grass this season the swiss rushing russia's mikhail youzhny in straight sets at the gerry weber open to set up a show don with local tommy haas federer making this one looks simple taking the first set six games to one before winning out six for the second for the match federer youzhny in all thirteen of their meetings he'll enter as favorite in the decider after that. but he will face a partisan crowd there after a local man tommy haas claimed his spot in the final a german winning
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a semi against full of cool screamer in straight sets seven five seven pm six. hundred. was not his first pool decision of the moto g.p. season the spaniard set the start at the front of the grid for sunday's british grand prix but. this in qualifying on a reinstall silverstone track. just over three seconds quicker than american bends by while defending chopping casey stoner was third pace east jumped ship leader jorge lorenzo will start from fourth to the struggle for nicky hayden he crushed i don't know start in seventh but has to carry a team that fall until rossi also tumbled in similar circumstances but recovered to claim ten spot. within the weekend when they went to make two more i will do so nor do they need condition where it'll be difficult because rain coming. at the end
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i can get good really. just wait for two more race see what we do whether we have just pushed them actually move so i do do to make a good. and try to stay again he had more of an action packed weekend much much more including the latest from the rugby internationals in the southern hemisphere that's in two hours time but now it is the world marina's here in a few minutes time with all the. if you're following up on my doubt you'll go to the. attorneys are sort of a throwback and archaic part of our law. and it goes back to
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a time when people would wipe out of their forces in the wild west and pick up these fugitives and putting them into the sheriff for prosecution i don't think much company may follow suit you know people don't get it and when they go out there he's got weapons. and you have to hope that nothing bad can. put. forward facing killers and you got to keep that in mind others that to me a dollar bill for his arrest. we're not superheroes we can be killed two you know they should be in the head i'm going to die. and. once you've hunted man you know never go back on anything else. will do the. science technology innovation all the latest developments from around russia we've gone to the future or covered. the. comfort
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is the least you have. money is the last that you need if you travel this way. language is common. you know. the. emotions are intense. but i do experience crisis. we have a war criminal we have. all . right you know. it wasn't. when i was. you can. certainly can't do it through the barrel of
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a gun only if they have social change you can be the afghans themselves afghan men and women we believe. him not to a cross. but. it's a position and. people in the obama administration talking about how much they care about the women of afghanistan it's not true they don't care about the women of afghanistan. wealthy british style sun it's time to. market. what's really happening to the global economy.
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headline news to name to cause a report. it
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is. easy. to. russia would be so much brighter if you knew about song from funniest.


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